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Among those strategies, we focus on two of them: merge avoidance and mixing services. Such strategies may be adopted on top of virtually any blockchain-based cryptocurrency. In this paper, we show that whereas optimal merge avoidance leads to an NP-hard optimization problem, incentive-compatible mixing services are subject to a certain class of impossibility results. Together, our results contribute to the body of work on fundamental limits of privacy mechanisms in blockchainbased cryptocurrencies.<\/jats:p>","DOI":"10.1145\/3466826.3466831","type":"journal-article","created":{"date-parts":[[2021,5,19]],"date-time":"2021-05-19T16:09:27Z","timestamp":1621440567000},"page":"8-11","update-policy":"https:\/\/doi.org\/10.1145\/crossmark-policy","source":"Crossref","is-referenced-by-count":9,"title":["Blockchain Privacy Through Merge Avoidance and Mixing Services"],"prefix":"10.1145","volume":"48","author":[{"given":"Jefferson E.","family":"Simoes","sequence":"first","affiliation":[{"name":"UNIRIO, Rio de Janeiro, Brazil"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Eduardo","family":"Ferreira","sequence":"additional","affiliation":[{"name":"UFRJ, Rio de Janeiro, Brazil"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Daniel S.","family":"Menasch\u00e9","sequence":"additional","affiliation":[{"name":"UFRJ, Rio de Janeiro, Brazil"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Carlos A. V.","family":"Campos","sequence":"additional","affiliation":[{"name":"UNIRIO, Rio de Janeiro, Brazil"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"320","published-online":{"date-parts":[[2021,5,19]]},"reference":[{"key":"e_1_2_1_1_1","volume-title":"IRS offers USD 625,000 bounty to break Monero","author":"CoinTelegraph","year":"2020","unstructured":"CoinTelegraph . IRS offers USD 625,000 bounty to break Monero , 2020 . https:\/\/tinyurl.com\/cointelemonero. CoinTelegraph. IRS offers USD 625,000 bounty to break Monero, 2020. https:\/\/tinyurl.com\/cointelemonero."},{"key":"e_1_2_1_2_1","doi-asserted-by":"publisher","DOI":"10.21236\/ADA465464"},{"key":"e_1_2_1_3_1","doi-asserted-by":"publisher","DOI":"10.1109\/ICMLA.2017.0-118"},{"key":"e_1_2_1_4_1","first-page":"2","article-title":"Dandelion++ lightweight cryptocurrency networking with formal anonymity guarantees","volume":"2","author":"Fanti G.","year":"2018","unstructured":"Fanti , G. , Venkatakrishnan , S. B. , Dandelion++ lightweight cryptocurrency networking with formal anonymity guarantees . POMACS 2 , 2 ( 2018 ), 1--35. Fanti, G., Venkatakrishnan, S. B., et al. Dandelion++ lightweight cryptocurrency networking with formal anonymity guarantees. POMACS 2, 2 (2018), 1--35.","journal-title":"POMACS"},{"key":"e_1_2_1_5_1","volume-title":"Merge avoidance","author":"Hearn M.","year":"2013","unstructured":"Hearn , M. Merge avoidance , 2013 . https:\/\/medium.com\/ @octskyward\/merge-avoidance-7f95a386692f#.aal20545u. Hearn, M. Merge avoidance, 2013. https:\/\/medium.com\/ @octskyward\/merge-avoidance-7f95a386692f#.aal20545u."},{"key":"e_1_2_1_6_1","doi-asserted-by":"publisher","DOI":"10.1109\/Trustcom\/BigDataSE\/ICESS.2017.280"},{"key":"e_1_2_1_7_1","volume-title":"IMC","author":"Meiklejohn S.","year":"2013","unstructured":"Meiklejohn , S. , A fistful of bitcoins: characterizing payments among men with no names . In IMC ( 2013 ). Meiklejohn, S., et al. A fistful of bitcoins: characterizing payments among men with no names. In IMC (2013)."},{"key":"e_1_2_1_8_1","volume-title":"An inquiry into money laundering tools in the bitcoin ecosystem. In 2013 APWG eCrime researchers summit","author":"Moser M.","year":"2013","unstructured":"Moser , M. , Bohme , R. , and Breuker , D . An inquiry into money laundering tools in the bitcoin ecosystem. In 2013 APWG eCrime researchers summit ( 2013 ), IEEE. Moser, M., Bohme, R., and Breuker, D. An inquiry into money laundering tools in the bitcoin ecosystem. In 2013 APWG eCrime researchers summit (2013), IEEE."},{"key":"e_1_2_1_9_1","volume-title":"Obfuscation in bitcoin: Techniques and politics. arXiv:1706.05432","author":"Narayanan A.","year":"2017","unstructured":"Narayanan , A. , and Moser , M . Obfuscation in bitcoin: Techniques and politics. arXiv:1706.05432 ( 2017 ). Narayanan, A., and Moser, M. Obfuscation in bitcoin: Techniques and politics. arXiv:1706.05432 (2017)."},{"key":"e_1_2_1_10_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.comnet.2018.11.019"},{"key":"e_1_2_1_11_1","doi-asserted-by":"crossref","first-page":"457","DOI":"10.1007\/978-3-662-45472-5_29","volume-title":"Financial Cryptography","author":"Spagnuolo M.","year":"2014","unstructured":"Spagnuolo , M. , Maggi , F. , and Zanero , S . Bitiodine: Extracting intelligence from the bitcoin network . In Financial Cryptography ( 2014 ), Springer , pp. 457 -- 468 . Spagnuolo, M., Maggi, F., and Zanero, S. Bitiodine: Extracting intelligence from the bitcoin network. In Financial Cryptography (2014), Springer, pp. 457--468."},{"key":"e_1_2_1_12_1","doi-asserted-by":"publisher","DOI":"10.1145\/3393691.3394213"},{"key":"e_1_2_1_13_1","volume-title":"A quantitative analysis of security, anonymity and scalability for the lightning network. 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Detecting mixing services via mining bitcoin transaction network with hybrid motifs. arXiv preprint arXiv:2001.05233 (2020)."},{"key":"e_1_2_1_15_1","doi-asserted-by":"publisher","DOI":"10.1145\/2699026.2699100"}],"container-title":["ACM SIGMETRICS Performance Evaluation Review"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/dl.acm.org\/doi\/10.1145\/3466826.3466831","content-type":"unspecified","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/dl.acm.org\/doi\/pdf\/10.1145\/3466826.3466831","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,6,17]],"date-time":"2025-06-17T21:28:09Z","timestamp":1750195689000},"score":1,"resource":{"primary":{"URL":"https:\/\/dl.acm.org\/doi\/10.1145\/3466826.3466831"}},"subtitle":["a Hardness and an Impossibility Result"],"short-title":[],"issued":{"date-parts":[[2021,5,17]]},"references-count":15,"journal-issue":{"issue":"4","published-print":{"date-parts":[[2021,5,17]]}},"alternative-id":["10.1145\/3466826.3466831"],"URL":"https:\/\/doi.org\/10.1145\/3466826.3466831","relation":{},"ISSN":["0163-5999"],"issn-type":[{"value":"0163-5999","type":"print"}],"subject":[],"published":{"date-parts":[[2021,5,17]]},"assertion":[{"value":"2021-05-19","order":2,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]}}